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88% Of Companies ‘Support’ Or ‘Ready’ For SegWit

Wilma Woo

Wilma Woo | Apr 23, 2017 | 16:00

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88% Of Companies ‘Support’ Or ‘Ready’ For SegWit

Wilma Woo

Wilma Woo | Apr 23, 2017 | 16:00


88% of major cryptocurrency companies “explicitly support” or are “ready” to implement Segregated Witness (SegWit), data shows.

Bitcoin And SegWit: 46% ‘Explicit Support’

New statistics compiled by monitoring site Coin Dance tracked 146 well-known businesses in the space, finding 46% “explicitly supporting” SegWit and another 42% capable of implementing the technology as of Sunday.

The overall 88% figure suggests a welcome consolidation of business consensus regarding Bitcoin’s future after more than a year of disarray.

Support by Bitcoin Proposal

By contrast, only 6% of entities surveyed by Coin Dance “explicitly oppose” SegWit, with another 6% described as having a “neutral” or “no official” stance on the topic.

An accompanying list detailing the perspectives of businesses echoes a previous incarnation available on the Bitcoin Core website.

Among those in favor are BitGo, Bitfury, Bitpay and Microsoft Decentralized Identity. Several of these had already privately stated their support, while Microsoft’s head of decentralized identity tweeted sentiments earlier this month on supporting a user-activated soft fork (UASF).

In Opposition: 8 Out Of 146 Names

In all, supporters come from a range of different spheres of cryptocurrency and are distributed throughout international markets.

In the “ready” camp are names such as ATM manufacturer Lamassu and P2P marketplace Localbitcoins, both of which operate throughout the world.

Only eight names in total make up the opposition according to Coin Dance, first and foremost Roger Ver’s Mining pool ViaBTC is also listed as against the technology, having recently announced it would launch an international exchange this year after raising funds with anti-SegWit Bitmain.

Other Solutions Fail To Gain Support

Nonetheless, compared to the two other solutions tabled for scaling the Bitcoin network, SegWit is a clear steady winner. Emergent Consensus and UASF both have a markedly higher percentage of undecided responses – 46% and 78% respectively.

The strongest percentage of opposition is for Emergent Consensus, with 31% of companies not supporting the idea.

Litecoin: Bitmain Trades Sides, Supports SegWit Activation

How the landscape will change among the businesses of the Bitcoin ecosystem is still up for debate. The latest developments in Litecoin’s SegWit activation story contained a surprising U-turn from ostensibly staunch SegWit opponent Bitmain, which threw its weight behind a “unanimous” declaration to allow the technology to activate.

A post regarding the consensus decision reads:

We want to emphasize that this roundtable meeting represents only the consensus of participating members, and cannot make a decision on behalf of the Litecoin community… Our goal is to build a more harmonious community and realize long-term healthy growth, and we wish to have the support from the wider community.

What do you think about Coin Dance’s business statistics? Let us know in the comments below!

Images courtesy of Coin Dance, AdobeStock

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